ANC Limpopo to probe municipalities processes in depositing to VBS

ANC Limpopo spokesperson Phuti Seloba says the province will carry out its own forensic investigations into the looting of VBS Mutual Bank.

He says the investigations will trace the municipal funds and the processes involved when making deposits into VBS.

Seloba says the investigations should be completed in a month's time.

Findings of the probe will determine what action to take against those implicated, says Seloba.

Read: 'VBS stolen money bought the most useless things like Ferraris and helicopters'

At the moment we don't want to say anything that might jeopardise the quality of the investigations.

Phuti Seloba, ANC Limpopo spokesperson

The investigation is going smoothly. We have called all the affected municipalities and they are cooperating with the investigator and we are hoping that in a month's time we will be able to go to the party and say here are the findings and recommendations.

Phuti Seloba, ANC Limpopo spokesperson

We are committing ourselves to implement the recommendations to the latter and the harshest action will be taken.

Phuti Seloba, ANC Limpopo spokesperson

To hear the rest of the conversation with Phuti Seloba, listen below:


Recommended

by NEWSROOM AI
Read More
'I hope the EFF leaders are listening, what's happening is dissapointing'

'I hope the EFF leaders are listening, what's happening is dissapointing'

Callers on The Eusebius McKaiser Show share their views on the scandal relating to VBS Mutual Bank.

'VBS stolen money bought the most useless things like Ferraris and helicopters'

'VBS stolen money bought the most useless things like Ferraris and helicopters'

Deputy editor at Finacial Mail Sikonathi Mantshantsha says it is mind-boggling why no one has been arrested in the VBS saga.

ANC Limpopo postpones PEC meeting amid VBS fraud allegations

ANC Limpopo postpones PEC meeting amid VBS fraud allegations

The provincial executive committee was expected to meet on Thursday night.

Did Floyd Shivambu and the EFF benefit from the looting of VBS Mutual Bank?

Did Floyd Shivambu and the EFF benefit from the looting of VBS Mutual Bank?

The Money Show’s Bruce Whitfield interviews Business Day financial journalist Warren Thompson.

Action to be taken against ANC officials implicated in VBS report

Action to be taken against ANC officials implicated in VBS report

On Wednesday, the Reserve Bank released details of the R1.8 billion fraud and corruption at the bank.

Reserve Bank denies any regulatory supervisory failures in the VBS saga

Reserve Bank denies any regulatory supervisory failures in the VBS saga

Reserve Bank Governor, Lesetja Kganyago, says the forensic report will be handed to law enforcement authorities for prosecution.

'EFF should trade red overalls for orange ones'

'EFF should trade red overalls for orange ones'

Callers to the Eusebius McKaiser show weighed in on the VBS scandal.

R10 million siphoned from VBS to Floyd Shivambu's personal account

R10 million siphoned from VBS to Floyd Shivambu's personal account

Top ANC officials, along with senior EFF members are among those being fingered in the scandal relating to more than R1 billion being siphoned out of VBS Mutual Bank.

'VBS is being investigated and there is progress in that regard' - Hawks

'VBS is being investigated and there is progress in that regard' - Hawks

A report published by the SARB shows that close to R2 billion had been looted from the bank by over 50 individuals.

Execs at VBS Mutual Bank plundered it to death, it can’t be saved - report

Execs at VBS Mutual Bank plundered it to death, it can’t be saved - report

"VBS Mutual Bank — The Great Bank Heist". Bruce Whitfield interviews Intellidex Financial Analyst Stuart Theobald.

Popular articles
'I’ve never invested in the stock exchange. I know it too well'

'I’ve never invested in the stock exchange. I know it too well'

Bruce Whitfield interviews Prof Lorenzo Fioramonti (UP) about his attitude toward money (hopes, fears, successes, failures, etc.).

Feasibility study for Gautrain expansion completed but no approval yet

Feasibility study for Gautrain expansion completed but no approval yet

MEC for Transport Ismail Vadi says the feasibility study has been submitted to Treasury for consideration and formal approval.

Magashule has never taken responsibility for anything says Mxolisi Dukwana

Magashule has never taken responsibility for anything says Mxolisi Dukwana

Dukwana accuses Magasshule of taking him to Saxonwold and asking him to sign a project over to the Guptas for R2 million a month.

Judge in Omotoso case dismisses defence application to recuse himself

Judge in Omotoso case dismisses defence application to recuse himself

Judge Mandela Makaula has dismissed the defence application saying it has no merit.

'As long as I'm mayor, I'm not going to sit back and watch criminals take over'

'As long as I'm mayor, I'm not going to sit back and watch criminals take over'

City of Johannesburg Executive Mayor Herman Mashaba says criminals cannot be allowed to threaten service delivery in the city.

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone Viral'.